Dear all valuable users of CROSS exchange,
Thank you for your continued support. We have some big news for you.
We will conduct the【CROSS】XCR Token sale!
CROSS exchange has decided to conduct the XCR token sale for their next IEO (CROSS exchange LaunchPad).
【Purpose of the XCR IEO】
・To improve the value of both XCR and XEX
・What is CROSS (XCR)?
The CROSS project aims to develop a global digital asset exchange platform for various assets including the exchange “CROSS exchange,” for the future digital asset and digital money society.
The value of CROSS (XCR)
“To provide a platform for exchanging a full array of digital assets”.
CROSS exchange, which opened with the CROSS product on November 25, 2018, quickly grew into a top-class cryptocurrency exchange globally, spreading the names of CROSS exchange and CROSS (XCR) while gaining many users.
About the XCR Token Sale
The First Public Sale
At the time, ICOs were not available for general users because private sales were offered to “limited investors on specific whitelists”.
CROSS (XCR) ended its private sale in early 2018, gained more than 30,000 token holders, with many requests for additional sales. To date, we have promoted the XCR value premium without any additional token sales.
・100,000,000 XEX target announced to establish Private Fund
With the CROSS (XCR) IEO, CROSS, which operates CROSS exchange, will exchange the value of XCR and XEX (up to 100 million XEX) establishing a private XEX Fund from the acquired XEX.
・Use Applications of the XEX Private Fund Assets
⇒ 25%, to use for the XEX buyback (mainly to improve liquidity)
⇒ 25%, to use to burn XCR and improve liquidity
⇒ 50%, to use for the CROSS network development costs
100% of the XEX acquired through the XEX Private Fund will be permanently locked up and will not be marketed. (including initial acquisition)
・Impact on the Market
Buyback from the Private Fund
XCR's large-scale buyback of XEX significantly reduces XEX circulating supply. Further, the XEX Private Fund will continuously buyback XEX, reducing the circulating supply of XEX which can theoretically increase the value of each coin.
Transaction for Burning
With regards to XCR, it is expected that the circulating supply will gradually decrease and the scarcity per coin will increase due to transactions by services developed by CROSS and the buyback & burning from the XEX Private Fund.
・Token Distribution Schedule
For users who purchase CROSS tokens on the CROSS exchange LaunchPad, XCR will be reflected in your wallets within 7 days after the IEO ends
The XCR Listing Schedule is as follows:
To listing for RMT (Real Money Trading)
Trading on OTC
[November ～ December]
CROSS exchange, listings on multiple exchanges, etc.
【Purchase eligible currency for the XCR Token】
※ Since large price fluctuations of the XEX price are expected prior to each sales Phase, we will set the XEX price on the market rate one hour before the start of each Phase.
※ Sale using XEX with a lock-up is currently not planned. It will be performed only when it is possible to sell due to the sales volume situation.
【Minimum Purchase Quantity】
・ The equivalent of 300 USDT of XEX
【IEO Maximum Sales Quantity】
・General Sales Max 156,553,307 XCR
・Super Node Max of 14,285,714.3XCR
⇒ 1 Super Node equivalent to ~100,000 USDT with a max of 10 slots
※ What is a CROSS(XCR) Super Node
① Up to 20% of transaction rewards from XEX Private Fund will be returned.
② Up to 20% of transaction rewards created by XCR will be returned (by means of ONECARD, RMT, the XEX Private Fund, etc.)
③ Special benefits of services that generate all transactions deployed from CROSS (% increase in transaction return)
④ Node rights when the XCR main node is released
① 8/26 4:00 〜 8/28 3:59 VIP Members only
② 8/28 8:00 〜 8/30 12:00 VIP Members・Standard Users
＜Sale for Super Nodes＞
① 9/2 4:00 〜 9/4 3:59 VIP Members only
② 9/4 8:00 〜 9/6 3:59 VIP Members・Standard Users
※ VIP members are users who have more than 200,000 locked XEX on CROSS exchange.
1 XCR = 0.07～0.11 USD (depending on purchase conditions)
【Maximum Purchasable Quantity】
Unlocked XEX sales quantity limit: None (w/exception)
※ If the total supply of sales is exceeded, it will be prorated according to the applied quantity.
* For your applied unlocked XEX that was not able to purchase during the IEO, that XEX will be returned to your wallet unlocked.
(Example proportional distribution）modified on 8/23
・For this example, the XCR sales limit of 138,888.88 XCR will be assumed for the general sale, and the applied purchase demand is 277,777.76 XCR (sales volume exceeded).
・User A applies to purchase 1,000 XCR.
・The amount of XCR that User A will actually purchase is as follows:
1,000 x (138,888.88 ÷ 277,777.76) = 500 XCR
① User A’s purchase quantity ＝ 500 XCR
② Among the 1,000 XCR for purchase applied for, 500 XCR worth of XEX will be exchanged, and the remaining XEX will be returned to the user’s wallet (same state as before IEO application) unlocked.
<Modified: status of the returned XEX>
Before: Locked for 90 days and returned to A's wallet
After: Returned to A's wallet unlocked
【Where will the IEO take place?】
→CROSSexchange Launchpad (IEO Platform)
We look forward to your participation!
CROSS exchange Team